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Wed 08 Aug 2008R&D costs cut Lake profits 46% to €2m
DUBLIN TELECOMS equipment company Lake Communications has posted a 46 per cent drop in profits for the 16 months to the end of April due to increased spending on research, development and marketing of products, writes Simon Carswell.
Pretax profits fell to €2 million for the 16-month period, compared with €3.8 million for the 12 months to the end of December 2006, despite turnover rising almost 6 per cent to €28.4 million, according to newly filed accounts.
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